Buy Reliance Power for a target of Rs.190

US financial market woes are far from over. One disturbing point is that how the world's best brains and economists missed the forecasting of this financial disaster. It seems one day USA itself files bankruptcy and the experts always coming out with multiple reasons after everything happened. Ahead of weekend I didn't want to play in F&O unless I am prepared to lose the entire amount.US financial market woes are far from over.
Interestingly, Reliance Power has crossed it's 50 days moving average and formed certain  chart patterns which indicates the price may move past Rs.190 soon. As lot of buzz around Power sector, this scrip is a value buy at the price range of Rs120-140 (company will start producing power only after 3 years, remember) and a trade buy at current price. Buy whenever market is weak. Incremental pyramiding on the way up is recommended.
Till the sun outage is over, day traders are advised to be more cautious.  
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